Template:Nutshell Equity Derivatives 10.3: Difference between revisions

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{{eqderivprov|10.3}}. “'''{{eqderivprov|Dividend Period}}'''” can be the {{eqderivprov|First Period}} or the {{eqderivprov|Second Period}}, and if not otherwise specified, will be the {{eqderivprov|Second Period}}.  
{{eqderivprov|10.3}}. “'''{{eqderivprov|Dividend Period}}'''” means the {{eqderivprov|Second Period}}, unless specified as the {{eqderivprov|First Period}}.  
:{{eqderivprov|10.3(a)}} The “'''{{eqderivprov|First Period}}'''” starts on the {{eqderivprov|Clearance System Business Day}} one {{eqderivprov|Settlement Cycle}} after the {{eqderivprov|Trade Date}} and then runs from one {{eqderivprov|Cash Settlement Payment Date}} or {{eqderivprov|Settlement Date}} to the next.  
:{{eqderivprov|10.3(a)}} The “'''{{eqderivprov|First Period}}'''” starts on the {{eqderivprov|Clearance System Business Day}} one {{eqderivprov|Settlement Cycle}} after the {{eqderivprov|Trade Date}} and then runs from one {{eqderivprov|Cash Settlement Payment Date}} or {{eqderivprov|Settlement Date}} to the next.  
:{{eqderivprov|10.3(b)}} The “'''{{eqderivprov|Second Period}}'''” starts on the {{eqderivprov|Trade Date}} and then runs from one {{eqderivprov|Valuation Date}} to the next {{eqderivprov|Valuation Date}}, ending on the final {{eqderivprov|Valuation Date}} (unless it is a {{eqderivprov|Physically-settled}} {{eqderivprov|Forward Transaction}} to which {{eqderivprov|Variable Obligation}} doesn't apply, in which case it ends one {{eqderivprov|Settlement Cycle}} before the {{eqderivprov|Settlement Date}}).
:{{eqderivprov|10.3(b)}} The “'''{{eqderivprov|Second Period}}'''” starts on the {{eqderivprov|Trade Date}} and then runs from one {{eqderivprov|Valuation Date}} to the next, ending on the final {{eqderivprov|Valuation Date}} (unless it is a {{eqderivprov|Physically-settled}} {{eqderivprov|Forward Transaction}} to which {{eqderivprov|Variable Obligation}} doesn’t apply, in which case it ends a {{eqderivprov|Settlement Cycle}} before the {{eqderivprov|Settlement Date}}).

Latest revision as of 16:49, 9 March 2020

10.3. “Dividend Period” means the Second Period, unless specified as the First Period.

10.3(a) The “First Period” starts on the Clearance System Business Day one Settlement Cycle after the Trade Date and then runs from one Cash Settlement Payment Date or Settlement Date to the next.
10.3(b) The “Second Period” starts on the Trade Date and then runs from one Valuation Date to the next, ending on the final Valuation Date (unless it is a Physically-settled Forward Transaction to which Variable Obligation doesn’t apply, in which case it ends a Settlement Cycle before the Settlement Date).
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